Guided Therapeutics Inc (OTCBB:GTHP) witnessed a volatile trading session on Wednesday. The stock opened lower but saw buying interest emergeat the day’s low, which helped the stock recoup most of the losses and close flat.The stock has been underperforming the broader markets over the last several months. Guided Therapeutics has been forming lower tops and lower bottoms indicative of the strong bearish momentum and hit a fresh 52-week low on Wednesday. The oscillators, which measure momentum are clearly indicating that bears are in total control at the momentum. The index for relative strength has given a fresh sell sign.
Guided Therapeutics Inc (OTCBB:GTHP) announced financial results for the three-month period ending September 30, 2015. According to reports, the biggest highlight of the quarter was a sharp decline in its revenues over the past twelve months. It reported $262,000 in revenues during 3Q2014, but couldn’t surpass an ordinary figure of $94,000 in the recently concluded 3Q2015.
Other Highlights of The Quarter
Although there are many reasons that affected company’s revenue position during the September quarter, the primary one was lower than the normal shipment. It announced the shipment of 160 single-use disposables and six units of LuViva in 3Q2015 as compared to 5,380 disposables and 13 units of LuViva in 3Q2014. This reduction in shipment badly affected the revenue position of the company.
Total operating expenses incurred by Guided Therapeutic during the third quarter were $1,710,000 against $2,439,000 during the same period in 2014. It executed a number of tasks and projects during 3Q2014, which is why the operating expenses were 30% higher in the previous year than the figures announced this time.
Reduction in net operating expenses couldn’t help the company in attaining profitable state. As per the reports, the total loss attributed to shareholders during the 3rd quarter was $2.7 million, compared to the loss of $3 million in 3Q2014.
The senior management team of Guided Therapeutic was delighted to announce these financial results and hopes that it will attain profitable state in the upcoming quarters. According to Gene Cartwright, CEO, Guided Therapeutic, the recently concluded 3rd quarter is a strong evidence of company’s continuous progress towards positive momentum. It has expanded operations in different international markets of late, results of which would start seeing in a few months time.
Recently, Guided Therapeutic along with its national distributor invested reasonable time and resources in Italy to expand the reach of LuViva. The response given to LuViva during a national cancer screening program was amazing. The management team hopes soon Guided Therapeutic would expand to other countries and serve people to best of its ability and resources.